BUZZ-Mosaic rises after J.P.Morgan lifts rating to 'overweight', increases PT

Shares of fertilizer producer Mosaic MOS.N rise 1.3% to $24.22

J.P.Morgan raises MOS rating to "overweight" from "neutral"; raises price target to $29 from $26

"There is room for the company to increase sales volumes, which were held back by hurricanes in the second half of 2024," JPM says

Adds that the direction of prices for its key fertilizers is higher

"We think that Mosaic can reach $2.4b in EBITDA in 2025 versus $2.2b in 2024 " J.P.Morgan analysts say in a note

The new price target represents a 21.2% upside to the stock's last close

Seven of 20 brokerages rate the stock "buy" or higher, 10 "hold" and 3 "sell"; their median PT is $32 - LSEG data

Including session's move, shares down about 1% YTD